# Jamie posted all the journal entries into the ledgers. After the postings, Jamie realizes that the debit side of the travel account is greater than the credit side. What does this signify?

Is this multiple choice?

## Related Questions

The more people around, the more likely they are to help someone in need. true or false?
help!!

The statement above is FALSE.
The more people around, the LESS LIKELY they are to help someone in need. This is called Bystander Effect. When an emergency occur in the presence of many people, the victim is less likely to get help because the people around will think it is the responsibility of other to help the victim. But, if the emergency occur in the presence of a single witness, the single witness is more likely to rush to the victim's aid.

Suppose country X currently produces widgets. Then it establishes a regional trade agreement with country Y. Following the formation of the regional trade agreement, country X no longer produces widgets and now imports widgets from country Y. What has occurred?

Probably country Y had a comparative advantage over country X in the production of widgets, therefore trade resulted between the countries and it  increased the gains for both countries.

Country Y will probably continue to produce and export widgets and country X will be producing and possibly exporting some other good.

Bloomington Corporation reported the following on their contribution format income statement: Sales (12,000 units) $175,000 Less: Variable expenses 100,000 Contribution margin 75,000 Less: Fixed expenses 62,500 Net operating income$ 12,500 If sales increase by 10%, net operating income will increase by what amount?

Instructions are listed below.

Explanation:

Giving the following information:

Sales (12,000 units) $175,000 Variable expenses 100,000 Contribution margin 75,000 Fixed expenses 62,500 Net operating income$ 12,500

First, we need to calculate the unitary selling price and unitary variable cost:

Unitary selling price= 175,000/12,000= $14.58 Unitary variable cost= 100,000/12,000=$8.33

New income statement:

Sales= (12,000*1.10)*14.58= 192,456

Variable cost= 13,200*8.33= (109,956)

Contribution margin= 82,500

Fixed expenses= (62,500)

Net operating income= 20,000

The Up-Towner has sales of s913,400, costs of goods sold of $79,300, inventory of$187400, take the firm to sell its and accounts receivable of $78,900. How many days, on average, does it inventory assuming that all sales are on credit?A) 118.08 daysB) 84.69 daysC) 106.46 daysD) 74.19 daysE) 121.07 days ### Answers Answer: 862.56 days Explanation: Given that, sales of =$913,400,

costs of goods sold = $79,300, inventory =$187400,

Accounts receivable = $78,900 Cost of goods sold per day: = Cost of Good Sold ÷ 365 days in a year =$79,300 ÷ 365

= $217.26 Inventory Days: = Inventory ÷ Cost of goods sold per day =$187400 ÷ 217.26

= 862.56 days